Bitfarms Powers Up, Hits 6.3 EH/s with Baie-Comeau Activation

Bitfarms Ltd. has achieved a significant milestone. The Bitcoin mining company announced the full energizing of its Baie-Comeau farm’s initial phase. This move increases Bitfarms‘ total operating capacity to an impressive 240 MW, according to bitfarms.

Bitfarms CEO Geoff Morphy expressed satisfaction, citing the advantage of clean hydro power. This achievement brings the company closer to its 6.3 EH/s target. The Baie-Comeau farm, acquired in July 2023, began with a 3 MW operation. By August, it was operating at about 5 MW. An additional 6 MW was added in early October, marking the completion of the farm’s first 11 MW phase.

The company’s longer-term plans are ambitious. Bitfarms aims to achieve 11 MW by the end of Q3 2023 and will add another 11 MW as soon as power becomes available in the latter half of 2024. Founded in 2017, Bitfarms has established itself on the global stage, with 11 farms spread across four countries: Canada, the United States, Paraguay, and Argentina. Their commitment to sustainability is evident, as they predominantly utilize hydro-electric power and rely on long-term contracts.